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Zoliooz6o (b) Lender may apply such awards or proceeds, after the deduction of Lender's expenses incurred in the collectian of such amounts, at Lender's option, to the restoration ar repair of the Mortgaged Property or ta the payment of the Indebtedness, with the balance, if any, to Barrower. i.Jnless Lender otherwise agrees in writing, any application of any awards or proceeds ta the lndebtedness shall not extend nr pastpone the due date af ariy monthly installments referrcd ta in the Note, Section 7 of this Instrument or atly Callateral Agreement, or change the amownt of such installments. Borrow�r agrees to execute such further evidence af assigiment of any awards ar proceeds as Lender may require. 21, TRANSFERS OF THE MORTGAGED PROPERTY OR INTERESTS IN BORRaWER. (a) The occurrenc;e �f ariy of the following events shall constitute an Event of Default under this Instrument: (1) a Transfer of all or any part of th� Mortgaged Fraperty ar any interest in the Mortgaged Praperty; (2) a Transfer of a Contarolling Interest in Sarrower; (3) a Transfer of a Contralling Interest in any entity which ovms, directly or indirectly through one ar more intermcdiate entities, a Controlling Interest in Borrower; (�) a'Cransfer oF all or any part of a Key Principal's ownership interests in Borrawer, or in any other entity which awns, directly or indirectly through ane or more int�rmediate entities, an ownership interest in Borrower (other than a'rransfcr of ara aggregate beneficial ownership interest in the Barrower of 49% ar less of such Key Principal's original awnership interest in the Borrower and which does not otherwise result in a Transfer caf the Key Principal's Controlling Interest in such intermediate entities or in the Borrower); (5) if Key Principal is an entity, (A) a Transfer of a Controlling Tnterest in Key Principal, or (B) a Transfer af a Controlling Interest in any entity which owns, directly or indirectly thraugh one or mare intermediate entities, a Controlling Interest in Key Principal; (C) if Borrower ar Key Principal is a trust, the termination or revocation of such trust; unless the tiust is terminated as a result of the death of an individual trustar, in vvhich event Lender must be notified and such Borrower or K�y Principal must be replaced with an individual ar entity acceptable to Lender, in accordance with the provisions of Section 21(c) hereof, within 90 days of such death (provided hqwever that no praperty inspection shall be required and a 1% transfer fee will not be chazged); (7) if Key Principal is a natural person, the dcath of such individual; unless the Lender is notified and such individual is replaced with an individual or entity acceptable ta FANNTE MAE MULTI�'AMII.Y S�CURITY IN5TI�UM�NT - Fnrm 4028 O6/09 Page 26 NEBRASKA � 1997-2009 Fannie Mae